The wording should be improved but there's a basis for what was said. Hardware support for MTE is largely implemented in the CPU cache. Qualcomm lacked MTE support due to not yet having it implemented in CPU cache. The engineering team likely gave too many details to marketing since it didn't need to mention cache.
Yeah, marketing misinterpretation sounds pretty likely, maybe even followed by a review with "...eehhh I mean it has a cache?" non-rejection. I've made that mistake too.